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Sunday, December 30, 2007

With organized retail having a mere four per cent market in the country, it did not pose any threat to the traditional kirana traders, a top official of supermarket chain, Spencer’s said on 14 December.

“We are in the Indian market for about a century now and do not pose any kind of threat to traditional trade which still dominates about 96% of the total market,” said Samar Sheikhawat, vice president, Spencer’s Retail Ltd.

Asserting that supermarket giants had the right to operate anywhere in the country, he said it was quite unfortunate that retail traders in Kerala’s Malabar region were opposing entry of MNCs in the retail sector.

“In China, where foreign direct investment was allowed in the retail sector 10 years ago, traditional trade enjoys 90% of the total market even now,” Sheikhawat said, adding even in India Spencer’s was able to peacefully co-exist with other retailers in different parts of the country.

Part of the multi-crore RPG Group, Spencer’s has 350 stores in 55 cities across the country and is planning to open up 5,000 outlets by 2011, he said.

Announcing the launch of its first “Hyper Format” in Kerala here, Sheikhawat said it would provide international shopping experience to the customers.

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comments

Words like SEC A and SEC B are freely tossed around without realising that, barring a few experts, there is little, if any, knowledge about their real meaning. Very few, for example, may be aware that shopkeepers/ traders though affluent and, therefore, having more spending power than most executives would fail to make the ‘high’ grade, if they are not well educated.------------------------hennry